Hayward Holdings Inc (HAYW)

Working capital turnover

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Revenue (ttm) US$ in thousands 922,271 923,297 948,260 1,064,159 1,263,605 1,358,135 1,463,492 1,424,864 1,342,456
Total current assets US$ in thousands 724,741 642,897 633,710 678,374 612,284 562,248 708,900 758,195 750,521 689,751 627,000 548,000
Total current liabilities US$ in thousands 239,683 197,882 202,038 195,053 232,410 229,322 310,143 319,764 303,864 279,077 263,100 234,600
Working capital turnover 1.90 2.07 2.20 2.20 3.33 4.08 3.67 3.25 3.01

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $922,271K ÷ ($724,741K – $239,683K)
= 1.90

The working capital turnover of Hayward Holdings Inc has shown a declining trend from Q4 2022 to Q3 2023, indicating a decreasing efficiency in utilizing its working capital to generate revenue. However, there was a slight improvement in Q4 2023 compared to Q3 2023.

A working capital turnover of 2.05 in Q4 2023 suggests that the company generated $2.05 in revenue for every dollar invested in working capital during that quarter. This ratio indicates that the company may be struggling to efficiently utilize its current assets and liabilities to drive sales volume.

It is essential for Hayward Holdings Inc to closely monitor and manage its working capital turnover ratio to ensure optimal efficiency in using its resources to generate revenue. The company may need to review its working capital management strategies to improve this ratio and enhance its overall financial performance.


Peer comparison

Dec 31, 2023

Company name
Symbol
Working capital turnover
Hayward Holdings Inc
HAYW
1.90
Middleby Corp
MIDD
3.63
Standex International Corporation
SXI
2.38
Tennant Company
TNC
4.21